Your credit score is separate from your credit reports. And your reports don’t include your scores. But, thanks to the Fair Credit Reporting Act, you can get free copies of your credit reports from the three main credit bureaus—Experian, Equifax and TransUnion—once a year. You can access all of your free reports thru AnnualCreditReport.com. Or get your reports directly from Experian, Equifax and TransUnion.
Your payment history is the most important factor in your FICO credit score and accounts for 35% of most scores. VantageScore doesn’t provide percentages, but the percentages used are likely similar to FICO’s. And even just one late payment can drop your scores significantly. Having a good payment history is critical to maintaining healthy credit accounts.
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To help the government fight the funding of terrorism and money laundering activities, federal law requires all financial institutions to obtain, verify, and record information that identifies each person who opens an account. When you open an account, we will ask for your name, address, date of birth, and other information that will allow us to identify you.
The time it takes to repair your credit can vary widely, depending on a number of factors – from how many mistakes you have to fix to what you want to accomplish once your credit is fixed. Since people often repair their credit with a specific goal in mind – like buying a house or negotiating an interest rate with a creditor – it’s important to know how long the process can take so you can plan ahead effectively.
Become familiar with the information contained in each of your credit reports. They'll all look very similar, even if you've ordered them from different bureaus. Each credit report contains your personal identifying information, detailed history for each of your accounts, any items that have been listed in public record like a bankruptcy, and the inquiries that have been made to your credit report.
Lenders and others usually use your credit report along with additional finance factors to make decisions about the risks they face in lending to you. Having negative information on your credit report or a low credit score could suggest to lenders that you are less likely to pay back your debt as agreed. As a result, they may deny you a loan or charge you higher rates and fees.
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Debt consolidation can have both positive and negative effects on your credit score. The loan’s effects on factors such as payment simplification, credit utilization, and credit mix may help raise your credit score slightly. Conversely, the new credit inquiries required to qualify for one of these loans may also lower your score slightly. However, as long as you have a sound plan to pay off your debts over time and implement your plan effectively, your credit score will improve over the long term.
The time it takes to repair your credit can vary widely, depending on a number of factors – from how many mistakes you have to fix to what you want to accomplish once your credit is fixed. Since people often repair their credit with a specific goal in mind – like buying a house or negotiating an interest rate with a creditor – it’s important to know how long the process can take so you can plan ahead effectively.
Step 2: Tell the creditor or other information provider, in writing, that you dispute an item. Include copies (NOT originals) of documents that support your position. Many providers specify an address for disputes. If the provider reports the item to a consumer reporting company, it must include a notice of your dispute. And if the information is found to be inaccurate, the provider may not report it again.

To qualify for the 0.50% rate reduction, you must apply for an unsecured Personal Loan by March 31, 2019.  Applications can be made online, over the phone, or in a branch.  The 0.50% rate reduction applies only to new loans applied for during the eligibility period, and is not retroactive to any existing loan(s).  The 0.50% rate reduction is in addition to any relationship discount for which you may qualify. The Annual Percentage Rate (APR) for unsecured Personal Loans ranges from 7.49% to 24.49%.  For unsecured Personal Loans applied for by March 31, 2019, the rate reduction APR ranges from 6.99% to 23.99%.  Rates are as of January 2, 2019, and are subject to change without notice.

Once you’re looked at your credit reports, you want to fix any errors you find. For most people, the process of fixing errors on credit reports is known as credit repair. Credit repair is something you can do on your own. Or you can turn to the help of a professional credit repair company for help with fixing your credit. Whichever option you choose, start as soon as possible.
If you are in a situation where debt consolidation isn't a good fit, there are other options. In some cases, debt settlement - such as the services offered here at National Debt Relief - may work better for you. In other cases, working with a credit counselor to develop a plan to address your debts may be a good choice. If your current financial situation is so dire that you may never be able to make even minimum payments to service your debts, bankruptcy may be the only option. In any case, before you decide on debt consolidation or some other method to address your outstanding debts, you should talk to a trusted financial advisor to determine the best path forward.
Sky Blue’s customer service is consistently lauded by customer reviews and industry publications. The initial evaluation the firm does for all new customers can sometimes reveal cases where a potential customer would be better off simply fixing whatever may be ailing their credit themselves. Remarkably, Sky Blue has been known to inform their potential clients of this in lieu of charging them for services.
After you’ve resolved the negative items on your credit report, work on getting positive information added. Just like late payments severely hurt your credit score, timely payments help your score. If you have some credit cards and loans being reported on time, good. Continue to keep those balances at a reasonable level and make your payments on time.
Borrowers often use debt consolidation loans to address multiple outstanding debts. If you’re thinking about debt consolidation, one important consideration is the loan’s impact on your credit score. Using debt consolidation to pay down debts can often be beneficial to a borrower’s credit score. However, there are pitfalls, and you could end up lowering your credit score if you’re not careful.

† The Annual Percentage Rate (APR) is the cost of credit as a yearly rate and ranges from 5.99%-29.99%, which may include an origination fee from 0.99%–5.99% that is deducted from loan proceeds. Any origination fee on a loan term 5-years or longer will be at least 4.99%. The APR offered will depend on your credit score, income, debt payment obligations, loan amount, loan term, credit usage history and other factors, and therefore may be higher than our lowest advertised rate. Requests for the highest loan amount may result in an APR higher than our lowest advertised rate. You need a minimum 700 FICO® score and a minimum individual annual income of $100,000 to qualify for our lowest rate.

If you are in a situation where debt consolidation isn't a good fit, there are other options. In some cases, debt settlement - such as the services offered here at National Debt Relief - may work better for you. In other cases, working with a credit counselor to develop a plan to address your debts may be a good choice. If your current financial situation is so dire that you may never be able to make even minimum payments to service your debts, bankruptcy may be the only option. In any case, before you decide on debt consolidation or some other method to address your outstanding debts, you should talk to a trusted financial advisor to determine the best path forward.
You can learn more about debt consolidation laws to make sure you’re protected. If you decide to work with a debt settlement company it’s important that you choose one carefully. National Debt Relief is accredited by the Better Business Bureau with an A+ rating and belongs to the American Fair Credit Council, which is the watchdog of the debt settlement business. In order to be a member of this Council, we are pledged to treating our customers transparently, honestly, ethically and fairly.
When you apply for and then obtain your debt consolidation loan, you may notice a slight drop in your credit score immediately afterward. Every time you apply for new credit, a lending institution pulls your credit report to help it decide whether to grant you a loan. New credit inquiries comprise approximately 10% of your credit report, and each new inquiry can potentially have a negative impact on your overall credit score.
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5. Make a plan to avoid new debt. A debt consolidation loan can wipe the slate clean and allow you to start fresh with zero balances on credit cards and other credit commitments. Although it may be tempting, avoid using your newly cleared accounts to shop or manage household expenses. You don’t want to create new debt that you’ll have to pay on top of your debt consolidation loan.
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